Construction: City might end up with record year for building

Posted: Wednesday, September 29, 2004

Another record year in building permits for the city?

Maybe.

August permits totaled $42,892,765, bringing the year's total to $212,272,259. That's $16.4 million more than the first three quarters of last year. It is looking quite promising that 2004 will be yet another record-setting year for construction in Amarillo. Roofing is again a strong contributor to high volume.

Residential construction accounted for 56 percent of the month's volume, while commercial permits accounted for 44 percent. Roofing permits were 35 percent of the 56 percent in residential construction. There were 51 new home permits issued in August; the year's total is now up to 499.

That's 13 homes less than last year. Thirty-one permits issued for new homes were valued at more than $125,000, while only 20 were valued below that figure.

Thus far, residential construction has made up 58 percent of the overall volume - a healthy figure compared to last year's 47 percent. This is largely due to this year's numerous roofing permits. The roofing permits for the first three quarters this year have accounted for 17 percent of the total volume, while for the same period last year they registered a weak 2 percent of overall volume.

The three largest home permits were issued for houses in different neighborhoods, which proves the city is growing in all directions. The largest home permitted for $292,858 at 6304 Willow Oak Place in The Woodlands. A home in the Colonies at 8303 New England Drive North had a permitted value of $265,480. And third, 7804 Greenbriar Drive in the Greenways permitted for $263,273.

Commercial construction, although not strong, is keeping a steady pace in the city. The Arbors on Wolflin Avenue was the largest commercial permit at $3,548,048. AIG is getting new offices for $1,560,869 at 2401 S. Osage St. This location also will house their computer building. Two elementary schools, Mesa Verde and Robert E. Lee, will get additions and renovations with permits at $1.6 million each.

Nationally, recent price increases in building materials have caused some slow construction starts.

However, this does not seem to be a threat in the Panhandle. If we continue to stay on the same track for the last quarter of this year, Amarillo building could set another all time high.